Business Directories

Experts shed light on key Fatca legislation

Manama, March 17, 2014

Leading experts discussed the Foreign Account Tax Compliance Act (Fatca), international investment holding structures and global tax transparency at a key seminar hosted by the Bahrain Chapter of The Institute of Chartered Accountants of India (BCICAI).

Organised in partnership with Amicorp, the seminar was held at Gulf Hotel.

Knipping explained the applicability, scope and various important requirements of the 'Foreign Account Tax Compliance Act'.

He emphasised the significance of Fatca legislation for all countries across the world, including Bahrain.

Arts explained various types and significance of the investment holding structures to ensure the compliance of law as well as to get maximum benefit from the investments.

Dome focused on investment structures in Luxembourgh and Ferenga explained the various holding structures for making investments in the real estate market in the US.

The speakers highlighted the fact that with a well planned investment holding structure, the taxation liability may be minimised and the organisations remain fully compliant with law, said the report.

BCICAI chairman Sanjay Gupta thanked Amicorp for arranging this seminar for BCICAI members and bringing top experts on the subject to discuss contemporary topics that are really useful for the business and professional community in Bahrain.

The event witnessed participation from more than 200 members of BCICAI.-TradeArabia News Service